Global Law Office advises Wuzhou International Holdings Limited on its offering of USD100,000,000 convertible notes to Pingan Real Estate (Hong Kong) Company Limited and PA Glorious Opportunity VIII Limited.
Wuzhou International Holdings Limited is a HK listed company and a leader in China in the development and operation of specialized wholesale markets and multi-functional commercial complexes and has been listed in Hong Kong. Pingan Real Estate (Hong Kong) Company Limited is a private company wholly-owned by Ping An Real Estate Company Limited which is the real estate investment management arm of Ping An Insurance (Group) Company of China Ltd. PA Glorious Opportunity VIII Limited is an affiliate of PAG and a private company wholly-owned by investment funds managed by Pacific Alliance Investment Management Limited.
The notes will be issued in two tranches of US$50,000,000 each. The first tranche has been issued on September 26, 2014 and the second tranche is expected to be issued on December 1, 2014. The notes will have a maturity of five years due in 2019 and will bear a fixed interest rate of 7% per annum during its term. BNP Paribas Securities (Asia) Limited and Citicorp International Limited are respectively the sole placement agent and the trustee.
Global Law Office acted as the PRC legal counsel to the issuer and provided the issuer with a full range of legal services. Our team was led by our Shenzhen-based partner Mr. Cheng LI, and the other team members include Ms. Jihong HE and Mr. Zhao DENG.